Technical Outlook August 11, 2017

11 August 2017

EURUSD

The currency pair declined yesterday after the Asian session according to our expectations. There was no sense to open trades during the American session as EUR/USD moved downwards for 500 pips during the day. The currency pair is trying to reverse its tendency currently as it has broken through the trend line. The main event for today is the US Inflation data.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair was trading according to our expectations last week and developed its growth. We think that the currency pair is likely to decline in the next couple of days. The main reason for this is the Friday’s US Labor Market and Average Hourly Earnings data.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.

GBPUSD

The currency pair is fluctuating within a tight range currently. We think that it is ready to make a reverse. However, everything will depend on today’s US Inflation data. We expect the US CPI data to be worse than forecasted. USD will be under pressure again in the case. Anyway, it is better to do nothing today as the situation is unclear.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line The currency pair resumed its growth last week according to our expectations. We think that GBP/USD is likely to develop its correction in the next couple of days.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.

AUDUSD

The currency pair approached the MA55 balance line several times but it was difficult to open trades and to take profit. Anyway, if you managed to sell, you could close your trades at breakeven level. The Reserve Bank of Australia member commented the situation today during the Asian session. He said, that the high AUD price is negative for the Australian economic development.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The currency pair developed its growth last week according to our expectations. We think that AUD/USD is likely to start its downside correction in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

USDCHF

The currency pair developed its decline yesterday as the Swiss Franc is on demand because of the tensions between the United States and Nothern Korea. The leader of the Northern Korea announced again his wish to attack Guam island. We advise to do nothing today as the situation is unclear.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair developed its growth last week according to our expectations. We think that USD/CHF is likely to continue its upside tendency in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to avoid trading today as the situation is unclear.

Begin to trade!

•
A bonus account
by Adamant Finance is an excellent opportunity for getting to know the company and the terms of trade, without
transfering any money. ► Details

• Take part in a breath-taking trader’s Contest on demo accounts and
get real money prizes without any limitations or additional terms to withdraw prize money! ► Details

•CopyFx account
- allows you not only to make money on your trades but also on your followers who copy your trades! ► Details

•The partnership programmeis convenient and doesn't require any financial investments. All you have to do is place our advertisement on your homepage, blog, forum, or display it in social media. ► Details

ECN/STP Forex broker Adamant Finance – an international brokerage company that enables both private persons and other companies to trade on the foreign exchange market. Trading is done via the MetaTrader 4 platform. We offer a wide range of trading instruments: currencies (Forex), American stocks, futures, indexes and precious metals. All of that with minimal spreads and no commission fees.

Adamant Finance is constantly improving and creating new services, so that our clients can earn on the Forex market. We offer round the clock customer support on five days of the week, personal consulting and fresh financial news and predictions every day. Our homepage www.adamantfinance.com contains many articles on the subject of Forex: you can begin studying free of charge, take part in seminars and webinars, watch educational videos and do much more.

The Forex partnership programme is a way to make money on the internet. Partners are paid proper bonuses and offered flexible terms. The system offered by Adamant Finance is profitable for all parties: bring us clients and we will pay you. Earn up to 6 dollars per lot. Our partners are advertising a wonderful product – the best terms of trade: spreads starting from 0 pip, possibility to scalp and trade during the news, the perfect conditions for trading with robots.

Risk disclosure notice – you need to understand that trading with leverage means there will always be a possibility that you might lose some or all of the money that you were planning to use for investment. Never invest any money that you cannot afford to lose. Please, take time to thoroughly get to know the risks that accompany trading.